Breaking Down SG&A Expenses: Bristol-Myers Squibb Company vs Alkermes plc

A Comparative Analysis of SG&A Expenses: Bristol-Myers Squibb vs. Alkermes

In the ever-evolving pharmaceutical industry, understanding the financial strategies of leading companies is crucial. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of two prominent players: Bristol-Myers Squibb Company and Alkermes plc, from 2014 to 2023.

Bristol-Myers Squibb, a titan in the industry, consistently outpaces Alkermes in SG&A spending, with an average annual expense of approximately $6.1 billion, compared to Alkermes' $483 million. Notably, Bristol-Myers Squibb's expenses peaked in 2022, reaching nearly $7.8 billion, a 37% increase from its 2018 low. Meanwhile, Alkermes showed a steady upward trend, culminating in a 245% increase over the decade, peaking at $690 million in 2023.

This financial commitment reflects each company's strategic focus on market expansion and operational efficiency, offering insights into their competitive positioning.